Depending on the supplier, there are several types of deals that allow real estate agents to apply and get approved for a real estate commission advance. Most providers in Canada only advance on residential resales. However, there are some well-established providers that advance on a variety of real estate deals. Here are the main types of deals that real estate agents can get a commission advance for:
- Residential Sales And Leases – Residential resales represent the traditional sales between buyers and sellers and are the most common type of real estate transactions on the Canadian market today.
- They can also come as residential leases, where the transaction is essentially the same, only the payment method is different. Real estate agents can easily get a commission advance on these types of deals as these deals are more likely to close. They also stand higher chances of closing quickly. Real estate agents can receive an advance on their commercial resale or lease deals with AccessEasyFunds. Not all providers advance providers advance on these deals
- Commercial Resales and Leases – Commercial resales and leases are a form of real estate transactions where the object of the deal is a commercial property. Commercial properties may include a variety of real estate that is designed to generate income including hotels, stores, buildings, and more. Real estate agents can receive an advance on their commercial resale or lease deals with AccessEasyFunds. Not all providers advance on commercial resale’s and leases simply because these deals tend to have longer closing times. Yet, there are certain well established commission advance providers that do offer commission advances on commercial deals.
- Industrial Resales and Leases – Industrial resales or leases are concerned with selling and buying industrial property. The term industrial property is very broad and may include small properties, large warehouse properties, or big box industrial properties. Real estate agents are eligible for a commission advance based on industrial resales and leases only with some providers. However, industrial resales and leases are not as common as residential or commercial resale’s and leases.
- New and Pre-Construction Houses and Condo Sales – This is a special category of real estate transactions that is not very popular among most commission advance providers. As the name properly suggests, these transactions refer either to new homes (house or condo) or to a new home that has not been built yet.
These are the main types of real estate deals that real estate agents can get a commission advance for. However, it is the lender who that what types of transactions are eligible for commission advance and what types are not. AccessEasyFunds offers commission advances on all of the above types of deals. Each provider also has its own conditions and fees. You should carefully study their offers and choose those that have no application fees, no administration fees, and no penalties for early repayment.